Reliance Industries to invest Rs 30,000 cr for NMSEZ, MSEZ

Mumbai, Feb 19 (UNI) Reliance Industries, owned by Mukesh Ambani, which is developing two Special Economic Zones in Maharashtra State, namely NMSEZ (Navi Mumbai SEZ) and MSEZ (Mumbai SEZ), is likely to invest a total amount of Rs 30,000 crore for their entire development.

Giving the break-up of the investments, a spokesman of the company told the media here today, '' While a sum of Rs 4,000 crore has been kept aside for Mumbai Trans Harbour Link (MTHL), a sum of Rs 3,000 crore would be spent for the development of Rewas port.

Similarly separate funds have been allocated for things like water (Rs 1,000 crore), Power (Rs 5,000 crore) and other infastructure (Rs 3,000 crore). Apart from it, a sum of Rs 15,000 crore is meant for new investments, he said.

In reply to a media query, he said, ''In both the projects, we're investing for the horizontal growth only and it will be the investors that will be putting their money for the vertical growth.'' Asked what would be the amount to be charged from the investors in the projects, the spokesman said that based on a modest calculation, it would be in the ratio of 1:10 which was lesser than the rate being offered by China for the investors in its SEZ which was 1:14.

Some of the industries that have evinced their interest in the projects include jems&jewellery, apparel, pharma and others.

Also, he disclosed that the Singapore-based firm Jurong International was planning for both the projects. Talking about employment prospects in the projects, about 20 lakh people were likely to get employment in the projects. ''We're approaching the government with a request to focus its attention on the few bigger SEZs only rather than a number of smaller SEZs.'' UNI